Asian Terminals Inc. on Wednesday said net income rose 15.8 percent to P2.9 billion in 2018 from P2.5 billion in 2017, on the back of record cargo volumes handled by its gateway ports in Manila and Batangas following the resilient Philippine economy.
The company’s revenues last year climbed 16 percent to P12.3 billion from P10.6 billion in 2017, driven by higher volumes of international containerized cargoes.
International gateway ports Manila South Harbor and Batangas Container Terminal handled a combined container throughput of over 1.4 million TEUs (twenty-foot equivalent units), the highest thus far for the listed port operator.
International boxed cargoes handled at Manila South Harbor in 2018 reached over 1.3 million TEUs, an increase of over 6 percent from 2017.
The rapidly growing Batangas Container Terminal handled nearly 250,000 TEUs, up 25 percent from the previous year.
Manila South Harbor and Batangas Container Terminal have effectively supported government’s drive for inclusive growth within and outside Metro Manila by opening direct market connectivity and delivering competitive port services to shippers based in the country’s national capital and southern Luzon regions.
Batangas Port has contributed to decongesting Metro Manila roads. Last year’s cargo volume meant taking out over 125,000 truck trips along metro roads, with more Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) shippers preferring to route consignments through BCT.
ATI earlier announced that major expansion projects were underway in both Manila and Batangas ports in support of future cargo growth.
The company has allotted about P14.7 billion in capital expenditures from 2019 to 2020 to develop more berths and storage spaces in Manila and Batangas ports and additional container yards outside the port zones, acquire more cargo handling equipment and invest in innovations, which will redound to greater efficiencies and safer port environment for stakeholders.
By the second quarter, the expansion of Batangas Container Terminal will be fully completed, bringing its capacity from 350,000 teus to over 450,000 teus, annually. The terminal is now equipped with four quay cranes, eight rubber-tired gantry cranes and additional mobile container handling equipment.